Ukrainian citizens and industries will not be held hostage to the excessively high gas price our country is paying, President Viktor Yanukovych said at a meeting with candidates for district state administrations chairmen late Friday.

The President said that the government has not raised gas prices for the population by 50%, “as some international institutions had proposed,” because it was well aware that "most of the socially unprotected people would not be able to afford such a price."

Viktor Yanukovych also added that the increase of gas price would also be unbearable for the national industry. "It would be a dead end for the economy. We chose not to raise the price," said Viktor Yanukovych.

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